Results tagged “vermont”

There was some hope when the math was getting too tough and many signatures for the "everything but marriage" Referendum 71 were turning up invalid, fake, or unregistered. But with a tally of 121,486 valid voter signatures, the referendum will be ballot-bound this November. All the while, Vermont is off celebrating the new same-sex marriage law with a bowl of Ben & Jerry's newest gay-friendly flavor, Hubby Hubby. One day. (sigh...)

Starbucks might be seeing hard times, but Tully's is expanding--by selling half of the company to Green Mountain Coffee Roasters and focusing on retail nationwide. In effect, the sale means the Tully's brand will have a greater presence on the East Coast, and we'll probably see Green Mountain coffee on more shelves here in the Northwest. The deal saves Tully's from a path headed straight towards bankruptcy, thought it does mean reduced operations at the old Rainier Brewery.

The important thing is that the big green T will stay by I-5 for your viewing pleasure. And your local Tully's shouldn't be closing. What's happened is that Tully's has sold its brand, wholesale business, and supply chain to Vermont's Green Mountain Coffee Roasters for about $40 million. They're keeping the retail side (and international biz). Tully's needed cash, since their IPO plans foundered back in February on the shoals of our current recession. The sale will pay off $8.6 million in debt, which was otherwise probably not going anywhere--Tully's has recorded a profit just once in its history.

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